MiFID II

All change for EU investment firm supervision

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The European Commission has published a proposal for significant changes to the Prudential Regime for EU investment firms, amending the framework set out in the capital requirements directive and regulation (CRD IV/CRR) and in MiFID2/MiFIR. The proposal will impact the Prudential Requirements on individual firms and the categories to which they belong. A full review […]

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MIFID II Data – Bond Trading

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We analyse sovereign bond trading volumes from Bloomberg and Tradeweb APAs and MTFs. Tradeweb APA sees the largest volume of trades. MTF market shares are roughly 50/50 between these two D2C platforms. 67% of German Bund volumes were executed on-venue. Only 18% of French OAT volumes were executed on-venue. Bond Trading by Venue Armed with […]

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MiFID II – NEX APA Public Trade Data

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NEX Regulatory Reporting operates a MiFID II APA and it is great that their public website now supports a Market Identifier Code (MIC) level search for post-trade data, which is then easily exportable into a csv file. Brilliant. Lets take a look at the data available. NEX APA The public website is here and selecting Trades shows […]

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Clarus Daily Briefing

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Our Clarus Daily Briefing is *FREE*. It provides a summary of price moves, volume trends and central bank expectations. Bringing you information about Swap markets straight to your inbox. Is your firm interested in sponsoring the Daily Briefing? If so, reach out to us. The FREE Clarus Daily Briefing Every morning, Clarus deliver our Daily […]

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ULLINK Delivers MiFID II Best Execution Reporting in Partnership with LiquidMetrix

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Solution live in production leveraging Ullink UL PUBLISHER post-trade data management hub

ULLINK, a global provider of electronic trading and connectivity solutions to the financial community, has extended its successful partnership with LiquidMetrix to deliver MiFID II best execution reporting to multiple European Sell-Side clients. The solution, UL PUBLISHER for Best Execution, teams ULLINK’s fully-automated, post-trade data management hub with the LiquidMetrix Workstation for MiFID II best execution reporting.

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Tradeweb and Bloomberg MTF Market Share

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Thanks to Tradeweb and Bloomberg for providing transparent data for January trading across their MTFs. Our analysis shows a 50/50 market share for D2C IRS trading. We have so far only looked at Interest Rate Swaps. Our analysis shows that 37% of customer EUR IRS trading is happening on-venue. MIFID Data…but first… We currently have […]

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How Good Is Your Trade And Transaction Reporting, Or Do You Even know?

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When I showed this blog to a chum of mine at another bank, he said my blogging’s now becoming like a London bus – you get nothing for two years and then two come along at the same time. He’s got a point! ?

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How Good Is Your Trade And Transaction Reporting, Or Do You Even know?

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When I showed this blog to a chum of mine at another bank, he said my blogging’s now becoming like a London bus – you get nothing for two years and then two come along at the same time. He’s got a point! ?

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Tradeweb APA Data and the Trading Obligation

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Well done Tradeweb for making APA and MTF data available to Clarus for analysis. Our APA analysis casts transparency over the off-venue market for the first time. 7,000 IRS trades, over €800bn in notional and €400m in DV01 to look at. We take this data to estimate the uptake of the European Trading Obligation in […]

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Tradeweb MIFID Data – Interest Rate Swaps

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Many thanks to Tradeweb for responding to our requests for access to weekly aggregated data. EUR IRS were by far the most traded Interest Rate Derivative across the Tradeweb MTF. Over €16bn in EUR IRS was transacted in the week 9th-16th January. Tradeweb volumes are equal to those reported by Bloomberg’s MTF for the same […]

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